The Bank of Nova Scotia has established a significant position in the Vanguard FTSE Developed Markets ETF (NYSEARCA: VEA), purchasing 1,294,700 shares valued at approximately $73,811,000 during the second quarter of this year. This acquisition was disclosed in the bank’s recent Form 13F filing with the Securities and Exchange Commission.
Institutional Investment Trends
Other institutional investors have also been active in the Vanguard ETF market. Notably, Envestnet Asset Management Inc. increased its holdings in the Vanguard FTSE Developed Markets ETF by 1.0% during the same quarter, bringing its total ownership to 99,706,551 shares worth approximately $5.68 billion after acquiring an additional 958,633 shares.
Northwestern Mutual Wealth Management Co. enhanced its position by 3.2% in the first quarter, now owning 59,628,214 shares valued at around $3.03 billion. Similarly, Northern Trust Corp raised its stake by 3.5% during the first quarter, resulting in ownership of 42,599,905 shares, which are worth approximately $2.17 billion.
In the second quarter, Wealthspire Advisors LLC also grew its stake by 1.2%, bringing its total to 22,786,946 shares valued at $1.3 billion. Lastly, the Vanguard Group Inc. increased its holdings by 8.7%, now owning 21,417,579 shares valued at approximately $1.22 billion.
Market Performance and Fund Overview
Shares of the Vanguard FTSE Developed Markets ETF opened at $62.04 on Monday. The fund boasts a market capitalization of $184.85 billion, a price-to-earnings (PE) ratio of 16.34, and a beta of 0.87, indicating a lower volatility compared to the broader market.
The ETF has experienced fluctuations, with a 52-week low of $45.14 and a high of $62.32. Its 50-day moving average price stands at $60.80, while its 200-day moving average price is at $58.68.
The Vanguard FTSE Developed Markets ETF was launched on July 20, 2007, and primarily invests in a diversified portfolio of equity securities from developed markets outside the United States. The fund aims to track a market-cap weighted index that includes large-, mid-, and small-cap stocks, making it a popular choice among investors seeking exposure to international markets.
As institutional interest continues to grow, the Vanguard FTSE Developed Markets ETF remains a focal point for investors looking to diversify their portfolios with established international equities.